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Author Topic: Bitcoin for Oil and Gas  (Read 13656 times)

Offline Alcor

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Re: Bitcoin for Oil and Gas
« Reply #60 on: August 14, 2022, 05:58:05 AM »
We had hoped that BTC would enter and become the means of payment of the oil market, but reality did not go so well. The capitalization of BTC is too small to serve payment needs, and the BTC price volatility is too large for companies to accept it easily. This should be followed up and applied in the future.
Of these three coins, Ethereum has an absolute advantage, including for price growth. This coin is now successfully passing the last tests and will be ready to complete its biennial network upgrade. This will significantly refresh and boost the slightly shaky rating of this coin due to the high gas fee. The price of ethereum has already decently grown against this background, far ahead of bitcoin and other cryptocurrencies in percentage terms. However, this is only the beginning.

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Re: Bitcoin for Oil and Gas
« Reply #60 on: August 14, 2022, 05:58:05 AM »

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Offline Afony

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Re: Bitcoin for Oil and Gas
« Reply #61 on: August 14, 2022, 10:31:11 AM »
If they succeed with updating the platform to increase the volume of transactions in the network, if everything works out, the price of gas in the Ether network will be in the same limit all the time.
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Re: Bitcoin for Oil and Gas
« Reply #62 on: August 16, 2022, 07:55:28 PM »
Do you think this gonna be happen? Because the value of Bitcoin keep increase and keep down. But they can do a thing to avoid it. Suppose if they want to accept they bitcoin payment, they should fix a minimum rate of bitcoin satoshi to get the per litter oil in exchange of bitcoin. If they set the satoshi then there will have no issue between the dollar impact.  But if they do not do this, they may be unable to do exchange bitcoin for gas or oil.
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Offline Muneeb22

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Re: Bitcoin for Oil and Gas
« Reply #63 on: August 16, 2022, 09:43:50 PM »
Bitcoin is a great coin and soon the Ukraine fight is finished and after that i hope in so many countries will start to use the Bitcoin and that will be legal. This time so many peoples will trade in the crypto market and they make good money and so many peoples will left their job just they want to earn in the crypto market.

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Offline oyitoto

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Re: Bitcoin for Oil and Gas
« Reply #64 on: August 17, 2022, 05:23:36 PM »
The good characteristic about Bitcoin and cryptocurrency is that it does not discriminate against anybody or group for any reason whatsoever. So even with the many counts of economic sanctions, Russia can decide to adopt cryptocurrency and Bitcoin for international trades.
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Re: Bitcoin for Oil and Gas
« Reply #65 on: August 25, 2022, 06:40:14 PM »
It is unlikely that Russia will use bitcoin or another cryptocurrency for international payments in order to circumvent the imposed sanctions. Russia's attack on Ukraine has been going on for half a year, but we see no signs that Russia is trying to use cryptocurrency to circumvent sanctions. Russia trades with China for yuan. By the way, Russia keeps a significant part of its reserve in yuan. Recently there was also information that Russia sold some of its diamonds to India in circumvention of sanctions. India paid her back with her rupees. India and China are just not very friendly with cryptocurrency, so they will not use it. Even if Russia uses cryptocurrency somewhere, it will be a closed deal for the public.

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Offline Condorlaib

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Re: Bitcoin for Oil and Gas
« Reply #66 on: August 25, 2022, 07:40:45 PM »
It is unlikely that Russia will use bitcoin or another cryptocurrency for international payments in order to circumvent the imposed sanctions. Russia's attack on Ukraine has been going on for half a year, but we see no signs that Russia is trying to use cryptocurrency to circumvent sanctions. Russia trades with China for yuan. By the way, Russia keeps a significant part of its reserve in yuan. Recently there was also information that Russia sold some of its diamonds to India in circumvention of sanctions. India paid her back with her rupees. India and China are just not very friendly with cryptocurrency, so they will not use it. Even if Russia uses cryptocurrency somewhere, it will be a closed deal for the public.
very bad for the cryptocurrency market will be the situation when Russia, bypassing the sanctions, will use cryptocurrency.

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Re: Bitcoin for Oil and Gas
« Reply #66 on: August 25, 2022, 07:40:45 PM »


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Re: Bitcoin for Oil and Gas
« Reply #67 on: September 11, 2022, 04:35:27 AM »
It is unlikely that Russia will use bitcoin or another cryptocurrency for international payments in order to circumvent the imposed sanctions. Russia's attack on Ukraine has been going on for half a year, but we see no signs that Russia is trying to use cryptocurrency to circumvent sanctions. Russia trades with China for yuan. By the way, Russia keeps a significant part of its reserve in yuan. Recently there was also information that Russia sold some of its diamonds to India in circumvention of sanctions. India paid her back with her rupees. India and China are just not very friendly with cryptocurrency, so they will not use it. Even if Russia uses cryptocurrency somewhere, it will be a closed deal for the public.
with the enactment of the law that prohibits the use of transactions with crypto, it is certain that what you say will not be proven again, and it seems they will do according to the agreement with China as their new partner during the embargo. The trade war with the EU countries brought them closer to China for all trade matters and nothing happened to confuse Russia with the embargo.

very bad for the cryptocurrency market will be the situation when Russia, bypassing the sanctions, will use cryptocurrency.
After President Putin enacted the law that has come into force, all forms of transactions with crypto clearly cannot apply in Russia, but if behind the scenes they are going to do that, it seems that it will be difficult to detect whether they will do it. It's hard for us to say that because we know that the crypto community in Russia is big enough that they will do something to make it work.
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Offline KryptoBull

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Re: Bitcoin for Oil and Gas
« Reply #68 on: September 15, 2022, 09:34:41 AM »
We all know that BTC capitalization is too small compared to the total value of oil and gas transactions in the world. If BTC surpasses 500K USD and has a gold capitalization, we can expect the adoption of BTC payments for very large bills globally. For now I will use BTC as a cumulative asset.

Offline densus88

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Re: Bitcoin for Oil and Gas
« Reply #69 on: September 16, 2022, 05:43:29 PM »
We all know that BTC capitalization is too small compared to the total value of oil and gas transactions in the world. If BTC surpasses 500K USD and has a gold capitalization, we can expect the adoption of BTC payments for very large bills globally. For now I will use BTC as a cumulative asset.

Me too, I use bitcoin for my digital asset.
I think bitcoin is still volatile, It's the reason why bitcoin isn't suitable for gas and oil payment.
But maybe at the coming years, It will be.

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Online yohananaomi

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Re: Bitcoin for Oil and Gas
« Reply #70 on: September 19, 2022, 09:21:22 AM »
We all know that BTC capitalization is too small compared to the total value of oil and gas transactions in the world. If BTC surpasses 500K USD and has a gold capitalization, we can expect the adoption of BTC payments for very large bills globally. For now I will use BTC as a cumulative asset.

Me too, I use bitcoin for my digital asset.
I think bitcoin is still volatile, It's the reason why bitcoin isn't suitable for gas and oil payment.
But maybe at the coming years, It will be.

The market capitalization of bitcoin is already high and it is very possible to make transactions for oil and gas payments, especially if it is used it can trigger even higher price increases.
but the problem is not only market capitalization, because there are still many who have not been able to accept bitcoin to be accepted as a legal and recognized means of payment. because without any acknowledgment from buyers and payers, obviously it will not be able to be used, so it will still take more time for bitcoin to be accepted by many countries first.

Offline Mahindra

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Re: Bitcoin for Oil and Gas
« Reply #71 on: September 19, 2022, 05:47:47 PM »
In the current position Bitcoin is in, it doesn't look like its price will rise this year. Currently the market is not doing very well due to which all the coins including Bitcoin are very low in the market. Many things can be purchased with Bitcoin, including a variety of factories. That's why Bitcoin's value is immense.
Mahindra

Offline Fenix

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Re: Bitcoin for Oil and Gas
« Reply #72 on: September 21, 2022, 08:49:25 AM »
As I said before, I think Russia will accept bitcoin as their payment method, especially for oil and gas.
There are many sanctions for Russian government, becaue of the war.
But We know Russia is the big  countries, That will have good decision for their export, especially gas and oil export.
Believe  bitcoin will be adopted soon.
It has been almost seven months since Russia's military invasion of Ukraine and the imposition of unprecedented sanctions against Russia. Russia's evasion of international sanctions with the help of bitcoins has so far remained at the level of assumptions and conversations. From Russia, we do not yet see any signs that would indicate its intentions to use bitcoin in international trade. Moreover, during this time Russia adopted a law on digital assets, which makes it impossible to use cryptocurrency as a means of payment. Although the Russian authorities completely ignore any national and international norms and the absence of a special law will not be able to stop it, if there is a desire to still use cryptocurrencies for this.

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Re: Bitcoin for Oil and Gas
« Reply #73 on: September 21, 2022, 08:53:17 AM »
Russia seems to have announced that it will use cryptocurrency in terms of payments for certain resources, someone wrote about it. Now we need to think about whether they will ban the use of bitcoin while martial law is in effect.
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Re: Bitcoin for Oil and Gas
« Reply #74 on: November 23, 2022, 10:47:32 AM »
Russia seems to have announced that it will use cryptocurrency in terms of payments for certain resources, someone wrote about it. Now we need to think about whether they will ban the use of bitcoin while martial law is in effect.
you are right, whereas previously there was a ban in July that Russia does not accept crypto as legal tender by making regulations. but due to the protracted war situation and the embargo from European countries, a change in attitude finally had to be made by accepting crypto for payment for energy resources, although of course by complying with KYC rules.
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